Chapter 11 debtor representation of health care company providing proton radiation outpatient treatment to cancer patients. The debtor negotiated and obtained confirmation of a prepackaged plan of reorganization providing for the restructure of more than $125 million of secured debt, as well as its obligations to critical vendors. The debtor’s confirmed plan provided for a refinance of the obligations through issuance of bonds. The plan was confirmed 21 days after commencement of the Chapter 11 case.
Chapter 11 debtor representation of owner of grocery stores with 500 primarily union employees and annual sales of approximately $100 million. Through the bankruptcy competitive bidding process, the business and stores were sold to multiple buyers.
Chapter 11 debtor representation of specialty coffee retailer that operated 57 company-owned and 12 franchise locations. Thirteen-hour auction among multiple interested buyers allowed for payment to unsecured creditors of 90% on claims.
Chapter 11 debtor representation of operator of 30 grocery stores in Northwest and Central Washington, with approximately 1,200 mostly union employees, and generating annual sales of almost $300 million. Secured debt exceeded $100 million. Successful Plan confirmation with restructuring of capital structure and pension obligations to facilitate continued operation.
Chapter 11 debtor representation of seven affiliated companies that own and operate construction support vessels in the Gulf of Mexico’s oilfields. Confirmation of the debtors’ joint plan of reorganization restructured approximately $50 million in obligations and provided for the debtors’ continued profitable operations.
Chapter 11 debtor representation of developer of shopping center with construction financing largely held by a four-bank syndicate totaling approximately $65 million. Confirmation of a consensual plan that paid all creditors in full and allowed the client to retain its project.
Bush Kornfeld represented Ameridian, a dealer and repair/rebuild business in the construction heavy machinery segment, in its Chapter 11 case. The Chapter 11 case culminated in the successful confirmation of a Plan of Reorganization. Under the Plan, Ameridian’s business continues uninterrupted, its secured and unsecured obligations, totaling almost $20 million, are restructured, and the equity ownership remains unchanged.
Bush Kornfeld represented Frognal in obtaining the successful confirmation of its proposed plan of reorganization over the objection of its senior secured lender, enabling the debtor to sell its 112-lot planned residential subdivision in Edmonds, Washington and repay creditors holding over $12 million in claims in full.
Chapter 11 debtor representation of individual holding interests in over 26 separate LLCs and substantial commercial real estate holdings. Case was consolidated with pending Chapter 11 of debtor’s wholly-owned LLC and the debtors’ confirmed plan of reorganization restructured the debtors’ direct and indirect liabilities to multiple lenders.
Chapter 11 debtor representation of wholesale nursery focused on selling the debtor’s business as a going concern. The debtor successfully completed a Section 363, paying its secured lenders in full and providing a meaningful distribution to unsecured creditors.
Chapter 11 debtor representation of pod storage company, with a focus on selling the business/assets as a going concern. Successfully completed a Section 363 sale of the going concern assets to U-Haul.
Serving as local and conflicts counsel for Chapter 11 hospital debtors in possession in the Eastern District of Washington.
Represented debtor in the successful Chapter 11 reorganization of nine Sonic franchise restaurants in the Boise, Idaho area, resulting in preservation over 125 jobs.
Chapter 11 debtor representation of related-entities that owned and leased several commercial properties. Successfully obtained confirmation of a plan of reorganization that paid all creditors in full. Because one tenant of one property was a state-licensed cannabis producer, the U.S. Trustee appealed plan confirmation to the district court, which affirmed the bankruptcy court and to the Ninth Circuit Court of Appeals which affirmed the district court, in the first published circuit-level opinion addressing the intersection of the Bankruptcy Code and the Controlled Substances Act.
Chapter 11 representation of certain equity holders in a contentious confirmation dispute, including three-day plan confirmation trial in Anchorage. Negotiated resolution allowing for continued ownership of a series of restaurants in Anchorage and Kona.
Chapter 11 debtor representation of owner/operator of more than 70 seafood restaurants in several states. Through the Chapter 11 process, the debtor was able to close underperforming stores and sell the remainder as going concern(s) to multiple purchasers.
Chapter 11 debtor representation of a private utility providing telephone and electrical power services in Alaska. Successful restructure of approximately $55 million in secured debt and in excess of $100 million in unsecured debt.
Chapter 11 debtor representation including negotiating DIP financing to allow pre-confirmation payment of approximately $3 million in maritime liens and completion of the Debtor’s 183-foot vessel equipped with three deep diving submersibles, as well as confirming a plan of reorganization restructuring over $18 million of additional prepetition debt.
Chapter 11 debtor representation of real estate developer relating to his personal guarantees of acquisition and construction loans from sixteen separate lenders totaling more than $100 million. Confirmation of consensual plan of reorganization returned significant value to creditors while permitting the client to retain most of his assets.
Chapter 11 debtor representation of the owner of a paper mill and its affiliates, with 300 U.S. employees, annual sales of $200 million and secured debt, including bond debt, exceeding $100 million. The debtor’s confirmed plan of reorganization converted secured debt to equity and allowed for the debtor’s continued ownership and operation of its business.
Chapter 11 debtor representation creating a single forum for the resolution of multiple lawsuits in three states relating to the distribution of proceeds from the debtor’s sale of a valuable hotel site in Florida. Confirmation of a liquidation plan returned a sizable dividend to the remaining creditors.
Chapter 11 debtor representation of two casinos with ultimate confirmation of Chapter 11 plan providing for going concern sale.
Chapter 11 debtor representation of a seller of mobile phone service. The debtor negotiated a sale of its assets as a going concern and confirmed a plan providing for the negotiated sale and distribution to creditors thereunder.
Chapter 11 representation of operator of paper product stores and approval of Section 363 going concern sale of 10 locations.
Chapter 11 representation in the District of Alaska of operator of group homes and in home care with approximately 250 employees.
Chapter 11 individual debtor representation in which the debtor, through a confirmed plan of reorganization, successfully restructured his liabilities, including those relating to extensive commercial holdings valued in excess of $165 million.
Chapter 11 debtor representation and successful confirmation of consensual plan. Debtor owned several income-producing properties securing $14.5 million in financing.
Chapter 11 representation of was a wholesale distributor of pipe products to utility contractors, developers, municipalities, and private utilities and approval of Section 363 going concern sale.